American Citizen able to buy whole life insurance from UK company?

[Arthur Nesbitt]

Hi all,

If a person vapes but doesn't smoke cigarettes I understand that in the U.S. all life insurance companies will classify you as a Smoker rating. Apparently in the UK, vaping alone does not give a person a Smoker rating for life insurance. Does anyone know if an American Citizen with no other residency or citizenship is able to buy life insurance from a British company? I have no plans to travel there right now, I'm just looking to see if it would be possible to buy whole life insurance from an alien company (such as one in the UK) with a non-smoker rating?

Thanks for your help!

 

[Baseball7]

Not all companies consider vaping smoking. Are you a consumer looking for an agent?

 

[fed up]

The question would be: Can a foreign insurance carrier sell to a US citizen or can an agent for that company sell a policy over the phone to a non national

 

[Lloyds of Lubbock]

First of all whole life in the UK is not the same product as a domestic product.
In the US selling to a foreigner, who has no financial ties to this country no visa, is not getting a policy.
Insurance apps cannot be solicited on foreign soil.
I believe you will find a domestic policy with a smoker rating to be more to your liking than a policy issued in the UK.
There are companies that underwrite as other tobacco

 

[goillini52]

Hi all,

If a person vapes but doesn't smoke cigarettes I understand that in the U.S. all life insurance companies will classify you as a Smoker rating. Apparently in the UK, vaping alone does not give a person a Smoker rating for life insurance. Does anyone know if an American Citizen with no other residency or citizenship is able to buy life insurance from a British company? I have no plans to travel there right now, I'm just looking to see if it would be possible to buy whole life insurance from an alien company (such as one in the UK) with a non-smoker rating?

Thanks for your help!

 

[DHK]

Why would anyone want a whole life policy in a foreign country where you may not have access to your reserve values?

I am friends with Bhupinder Anand, an MDRT top of the table member and awesome speaker. He shared with me that their life ASSURANCE does not have cash values for the client. Obviously they build a reserve value, but it's only death benefit focused in the U.K. (He's in London.) He focuses primarily in traditional planning and estate planning purposes. He WISHES he had access to the kinds of contracts we have in the United States! He says he'd make Top of the Table every month! Somehow... I wouldn't doubt that.

 

[walthamny]

UK whole policy will require annual tax reporting requirements under US tax law. Dividends from a foreign whole life are subject to US income tax and foreign benefial ownership requirements. I recommend rescinding US citizenship first before buying a foreign whole life contract.